Avior Wealth Management LLC Increases Stock Position in General Electric (NYSE:GE)

Avior Wealth Management LLC raised its position in General Electric (NYSE:GE) by 5.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,353 shares of the conglomerate’s stock after buying an additional 491 shares during the period. Avior Wealth Management LLC’s holdings in General Electric were worth $1,952,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GE. Toth Financial Advisory Corp purchased a new position in shares of General Electric during the 3rd quarter valued at approximately $25,000. Valley Wealth Managers Inc. purchased a new position in General Electric during the third quarter valued at $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of General Electric in the third quarter valued at about $27,000. Peterson Financial Group Inc. purchased a new stake in shares of General Electric during the third quarter worth about $28,000. Finally, Studio Investment Management LLC raised its position in shares of General Electric by 97.5% during the 2nd quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Up 0.0 %

GE stock opened at $177.56 on Wednesday. General Electric has a one year low of $94.54 and a one year high of $194.80. The firm has a market cap of $192.17 billion, a PE ratio of 31.20, a PEG ratio of 1.75 and a beta of 1.19. The firm’s 50 day moving average price is $182.75 and its 200-day moving average price is $170.91. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.13.

General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $9.84 billion for the quarter, compared to the consensus estimate of $9.02 billion. General Electric had a return on equity of 18.93% and a net margin of 11.48%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.82 earnings per share. On average, equities research analysts anticipate that General Electric will post 4.22 EPS for the current year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Thursday, September 26th were given a dividend of $0.28 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. General Electric’s payout ratio is currently 19.68%.

Analyst Upgrades and Downgrades

GE has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Melius Research boosted their price target on General Electric from $194.00 to $202.00 in a research report on Tuesday, October 22nd. UBS Group increased their price objective on General Electric from $223.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Wells Fargo & Company increased their target price on shares of General Electric from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $200.93.

Insider Activity at General Electric

In other General Electric news, SVP Riccardo Procacci sold 7,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $181.13, for a total transaction of $1,267,910.00. Following the sale, the senior vice president now directly owns 13,289 shares in the company, valued at $2,407,036.57. This represents a 34.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is owned by insiders.

About General Electric

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.